RBI releases Framework for setting up of Wholly Owned Subsidiaries by Foreign Banks in India

The Reserve Bank of India (RBI) today released on its website, the framework for setting up of Wholly Owned Subsidiaries (WOS) by foreign banks in India. The policy is released in pursuance of the announcement made in the Second Quarter Review of Monetary Policy 2013-14 (para 26 - See below). The policy is guided by the… Read More

Tags: Banking in India, foreign direct investment, India, Reserve Bank, Reserve Bank of India, Run batted in, Subsidiary, WOS